Accredo Health, Inc. Marks Five Year Anniversary as Publicly Traded Corporation.

Business Editors/Health/Medical Writers

MEMPHIS, Tenn.--(BUSINESS WIRE)--April 16, 2004

Accredo Health, Incorporated (NASDAQ: ACDO) announced today that David D. Stevens, chief executive officer and chairman of the board, presided over the Market Open of The NASDAQ Stock Market(R) in New York City on Friday, April 16, 2004, marking the completion of Accredo's fifth year as a publicly traded corporation. Mr. Stevens, accompanied by other members of senior management, opened the market at 9:30 am Eastern Time.

Mr. Stevens said, "Based on our current biotech manufacturer relationships, the future potential pipeline of new products, our experienced management team and dedicated employees, we should be well positioned to continue to be a leader in the provision of niche retail pharmacy services to the biopharmaceutical industry. We look forward to the future of specialty pharmacy and, most importantly, making a positive difference in the lives of our patients."

"Accredo shareholders have seen an annual compounded growth in share price in excess of 50 percent over the past 5 years," said Joel R. Kimbrough, chief financial officer. "Our first full year as a public company we did $353 million in revenues and in our fiscal year 04 ending June 30, 2004, we should exceed $1.5 billion in revenues."

The Company was recently named to the 2004 FORTUNE 1000 list and to the 2004 Forbes 100 Best Big Companies list. At the time of Accredo's initial public offering, the Company distributed 5 drugs, had two retail pharmacy locations, Memphis and Nashville, Tennessee, three branch pharmacy locations and employed approximately 350 persons. Accredo, headquartered in Memphis, Tennessee, currently distributes 20 drugs, has grown to 4 centralized retail pharmacies, 30 branch pharmacies and currently employs over 2000 persons nationwide.

Accredo, through its three primary operating divisions, Accredo Therapeutics, Hemophilia Health Services and Nova Factor, provides specialized pharmacy and related services pursuant to agreements with biotechnology drug manufacturers relating to the treatment of patients with certain costly, chronic diseases. The Company's services include collection of timely drug utilization and patient compliance information, patient education and monitoring through the use of written materials and telephonic consultation, reimbursement expertise and overnight drug delivery.

In addition to historical information, certain of the statements in the preceding paragraphs, particularly those anticipating future financial performance, business prospects and growth and operating strategies constitute forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as anticipate, believe, estimate, expect, intend, predict, hope or similar expressions. Such statements, which include estimated financial information or results and the quoted comments of Mr. Stevens and Mr. Kimbrough above, are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described in the forward-looking statements, including, without limitation, the loss of a biopharmaceutical relationship, our inability to sell existing products, difficulties integrating acquisitions, the impact of pharmaceutical industry regulation, the difficulty of predicting FDA and other regulatory authority approvals, the regulatory environment and changes in healthcare policies and structure, acceptance and demand for new pharmaceutical products and new therapies, the impact of competitive products and pricing, the ability to obtain products from suppliers, reliance on strategic alliances, the ability to expand through joint ventures and acquisitions, the ability to maintain pricing arrangements with suppliers that preserve margins, the need for and ability to obtain additional capital, the seasonality and variability of operating results, the Company's ability to implement its strategies and achieve its objectives and the risks and uncertainties described in reports filed by Accredo with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, including without limitation, cautionary statements under the heading "Risk Factors" made in Accredo's Annual Report on Form 10-K for its year ended June 30, 2003.